Smallholder farmers, producing half of the world’s food, require $443 billion annually for climate adaptation, a new analysis reveals. This figure is significantly less than harmful agricultural subsidies and developing countries’ debt servicing costs. Global adaptation spending for smallholders in 2021 was a mere 0.36% of the needed amount, highlighting a critical funding gap. Smallholder farmers, producing half of the world’s food, require $443 billion annually for climate adaptation, a new analysis reveals. This figure is significantly less than harmful agricultural subsidies and developing countries’ debt servicing costs. Global adaptation spending for smallholders in 2021 was a mere 0.36% of the needed amount, highlighting a critical funding gap.
